Consumer Money Worries - Personal Debt

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Protected Trust Deed

A Trust Deed is a great way to restructure your finances, adjust your budget, and support recycling your credit.

A Trust Deed supports consumers with reduced payments, ensures interest and charges are frozen, and legally protects the consumer from legal action.

A Trust Deed lasts for a usual period of 48 months and is reviewed annually, or what there has been a change in circumstances. 

The objective is to support those in need with repaying affordable repayments over a realistic period of time.

The monthly payments are made to the Trustee, all contact from the creditors stop, and the Trustee is left to manage the arrangement and deal with creditors.

You maintain your payments, and the rest is managed for you.

How do I know if a Trust Deed is for me?

If you are struggling with money worries, unable to maintain contractual payments, and have an income or own assets, you may qualify for a Trust Deed.

If you would like to see if a Trust Deed is the best way to deal with your money worries, please don’t hesitate to contact one of our friendly advisors at Consumer Money Worries.

What happens in a Trust Deed?

Once a Trust Deed has been signed, the Trustee will communicate with your creditors. Providing 75% of your creditors accept the Trust Deed (which is highly likely), the trust deed will become protected. Once the Trust Deed is protected, the creditors will be restricted from taking legal action.

Your Trustee is there to manage the Trust Deed, distribute payments, and deal with your creditors’ correspondence.

All essential household bills must be maintained, such as a mortgage, rent, Etc.

While you are in a Protected Trust Deed, you must keep your Trustee up to date with any changes, including house moves or changes to income & expenditures.

There are several benefits to the Protected Trust Deed:

  • You only make one monthly affordable repayment
  • You no longer have to deal with your creditors
  • A Trust Deed will usually last for four years, and then, your debts are written off

Consumer Money Worries, the sister company of Company Money Worries, is authorised and regulated by the Financial Conduct Authority and can help, guide, and support you with your money worries.

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